Who is Daniele Sestagalli? Learn more about Time, SPELL and Popsicle

Do you know Daniele Sestagalli? This man is responsible for 3 of the most successful projects in the DeFi space, with a combined market cap of $ 6.5 billion (including MIM) and a total value stuck at $ 6.7 billion across all projects. Additionally, MIM is the stable coin in the 6th largest stable coin in the Sestagalli ecosystem by market cap. Once we discuss that, we’ll move on to his creations, Time, SPELL, and Popsicle.

Daniele Sestagalli – Who is he really?

Daniele Sestagalli has a long history in the blockchain industry. He has stated in various interviews that he started using Bitcoin in 2011. We don’t know much about him, but his project, Zulu Republic, made an impact on the industry in 2018. On his LinkedIn profile, Daniele claims to speak Italian, Spanish and English. , although the consensus is that he is Italian.

It appears that in early 2021 Daniele Sesta was busy developing a model for the music industry that would benefit both musicians and the industry itself. The aim was to “build a blockchain base for all who are involved in music”. This was done to help artists protect copyrights, to help them make money more easily, and to use the blockchain industry to modernize the music industry. You can watch his interview on the subject right here.

But suddenly the world seemed to have shifted, and Daniele Sestagalli came up with three things that really rocked the blockchain industry.

  • First, by using the efficiency, transparency, security and decentralized nature of the blockchain.
  • Crypto technology to improve the music industry remains an attractive concept.
  • Second, Pollstar reached out to Sestagalli to find out more about what makes Utopia Genesis unique, as well as his vision for the future of music.

CEO of Zulu Republic (2018)

This was a blockchain project that would run on the Ethereum network. The project website is no longer operational, but the stated objective of the initiative is as follows:

The Zulu Republic is an Ethereum blockchain-based digital platform ecosystem driven and driven by the belief that decentralized collaboration is the future of human protocol. With a focus on an unparalleled user experience, Zulu Republic’s goal is to make it easier than ever for individuals to enter the cryptocurrency revolution, giving them control over their own financial lives.

In 2018, Daniele was also a speaker at a Litecoin summit, as the representative of the Zulu Republic. The roundtable is available on YouTube.

Daniele Sestagalli and Andre Cronje collaborate on Fantom?

Daniele Sestagalli and Andre Cronje, two of the most respected experts in decentralized finance, hinted at the launch of a new product and a token this month on the Fantom blockchain.

Cronje, the prolific coder and renowned DeFi creator best known for creating the Yield Optimizer Tool Yearn.Finance, initially announced a new project on Fantom earlier this month. “This month I’m launching a new experience on Fantom,” he tweeted on Jan. 1.

Who is Daniele Sestagalli, the creator of Time, SPELL and Popsicle?

Cronje and Daniele Sestagalli, founder of Abracadabra, Wonderland.Money and Popsicle.Finance are working together on the project. On Twitter, Sestagalli announced the collaboration between Frog Nation and Cronje, claiming that the launch will begin with “Fantom Season!”

Who is Daniele Sestagalli, the creator of Time, SPELL and Popsicle?

MIM (Magical Internet Currency): MakerDAO challenge?

Daniele SestagalliThe popularity of Abracadabra has increased dramatically due to the rapid success of Abracadabra. Users can borrow US dollar MIM stablecoin (the magic internet currency) from Abracadabra by depositing interest bearing assets. It currently supports Ethereum, Binance Smart Chain, Avalanche, Fantom, and Arbitrum One and includes farming, lending, pledging, trading, and cross-currency chain bridging capabilities.

Abracadabra leverages the benefits of multi-chain deployment, support for the use of different interest-bearing assets, and a small number of cryptocurrencies to borrow stablecoins to improve the use of funds. However, it is not unreasonable to claim that this is a challenge for MakerDAO, the flagship project of the stablecoin protocol, like MIM circulation.

He now owns 26% of Dai and has passed the $ 1.8 billion mark. CoinGekco’s data has overtaken the Pax Dollar (USDP) and TrueUSD (TUSD) in terms of stable money circulation and now ranks sixth; Lockdown volume reached one-fifth that of MakerDAO. SPELL now has 23,000 addresses, or more than a third of MKR; SSPELL’s fee income on the Ethereum chain over the past week is double that of MakerDAO.

What is a spell token (SPELL)?

Spell Token (SPELL) is a reward token affiliated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKN) as collateral for borrowing from Magic Internet Money, a stablecoin (MIM) indexed to the ‘USD. Abracadabra uses SushiSwap’s Kashi Loan Technology (SUSHI) to establish distinct loan markets that allow clients to adjust their risk tolerance, depending on the collateral they choose to use.

Users can post collateral and borrow MIM in return. Abracadabra also provides Yield Farming options, where users can mine SPELL by staking their Liquidity Provider (LP) tokens. This improves the liquidity of specific cryptocurrency pairs including Ether (ETH) -Spell, Token (SPELL) and Magic Internet Money (MIM) -LP 3pool Curve (3CRV). Additionally, clients can open leveraged agricultural positions by borrowing MIM from their interest-bearing collateral.

SPELL is the governance token that can be staked to receive protocol revenue. There is a maximum amount of 210 billion SPELL Abracadabra magic tokens. On Ethereum, the SPELL contract 0x090185f2135308BaD17527004364eBcC2D37e5F6 is currently active. The main purpose of the SPELL token is to be staked in Abracadabra, to obtain SPELL tokens, which provide various benefits.

What is the purpose of the spell token (SPELL)?

  • First, they give holders the right to vote on platform functionality, including TVL, liquidation fees, and future collateral alternatives, among others.
  • Second, they offer cardholders a claim on the costs of the protocol.

The protocol fees came mainly from interest on the MIM borrowed at the time of launch. The fees are collected once the debt is paid in MIM. Here you can see how they are distributed:

  • The remaining 25% consists of SPELL tokens purchased for holders of sSPELL tokens.
  • The governance treasury will get 20% of the funds, which will be used to incentivize the MIM liquidity pools.
  • 5% is sent to a multisig treasury – this will be used to intervene in market situations.

What is the Wonderland TIME token?

Wonderland is a protocol developed on the Avalanche network. It is the network’s first decentralized protocol. Its native token, TIME, is backed by a treasure trove of other tokens. As a result, the TIME token has intrinsic value, which means that its price cannot go down. The economic dynamics and game theory of Wonderland are available to users. This is accomplished by staking and minting tokens.

According to the developers, their main goal is to create a monetary system governed by various regulations. As a result, the behavior of the TIME token will be consistent and stable. Users can use the TIME token to trade or hold these funds. The ultimate goal of the developers is for the system to generate income.

Why should I buy a time token?

Buying and staking the TIME token is one of the most rewarding things a trader can take. You now control a portion of the market cap supply, which remains almost constant, because when you bet and the circulating supply increases, the TIME balance of your stake also increases. This means that if you can buy and bet TIME when its market cap is very low, you can profit when it skyrockets.

Users exchange their TIME tokens for MEMORIES when they bet on them. Memories, like some other DeFi protocols, are transferable. If a trader decides to foil his TIME tokens, the MEMORIES will be burned, and he will receive the equivalent number of TIME tokens. Unstaked TIME tokens, on the other hand, will stop generating rewards.

Weather-price forecast for 2022

What is Popsicle Finance (ICE)?

Performance optimization protocols, decentralized exchanges (DeX) and loan / borrowing protocols are among the main categories of decentralized finance (DeFi) activity. Many of these protocols automate the entire liquidity placing process to optimize returns.

One of these sites is Popsicle Finance. Its advantage is that it can optimize your investment on multiple blockchain networks.

Popsicle’s native cryptocurrency, ICE, is currently trading at around $ 18, with an outstanding supply of nearly 13 million tokens and a market cap of $ 314 million. CoinMarketCap ranks Popsicle between 2,500 and 3,000 among all cryptocurrencies. The Total Locked-In Value (TVL) on the Popsicle platform is estimated to be around $ 32 million.

Popsicle Finance claims to be a next-generation yield optimization platform powered by (to start with) Sushiswap, Uniswap, and Pancakeswap. It is a fully decentralized network administered by its users, the ICE governance token holders. The ICE will be used to vote on protocol changes, pool inclusions, expense management and other critical operational matters.

Popsicle Finance is focused on AMM (LP) liquidity providers and will manage liquidity across multiple chains to improve capital efficiency and automatically offer its users the maximum potential income on the assets deployed in the liquidity pools. Community, security, efficiency and timeliness are all qualities to which Popsicle Finance firmly stands.

Popsicle Finance: how does it work?

The main product of Popsicle is known as V3 Optimizer. It offers optimized returns on a total of 14 swap pools. Each exchange pool is made up of two cryptocurrencies which are traded on different deX platforms. Further swimming pools are planned for the project in the future.

Current pools all share one coin – Wrapped Ethereum (WETH). Each of the 14 pools represents a second coin WETH pair traded on DeX with WETH. The pools available include WETH / USDT, USDC / WETH, WETH / ICE, and FTM / WETH.

Liquidity pools have Annual Percentage Rates (APRs) that indicate the projected return, which currently ranges from 20% (for WBTC / WETH) to 441% (for WETH / ICE). It’s no surprise that pools with the highest APRs are the most popular.

About Jimmie T.

Check Also

trough ASX; Consumer confidence plummets; Rex revamps services; Dow, S&P 500 down, Nasdaq rebounds; bonds jump; $A below US69¢; Ampol seeks $150m underdebt; Retail sales in China ahead

Federal Reserve Chairman Jerome Powell, who has carefully telegraphed four-year interest rate hikes, seems likely …